Demonetisation has provided a new source of income to the youth

Sakshi Chaturvedi

Sakshi ChaturvediBy Sakshi Chaturvedi

Published on 18 Nov 2016 11:20 AM GMT

Demonetisation has provided a new source of income to the youth
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Lucknow: The demonetisation has provided a new source of income to some young boys . They are collecting banned high denomination notes at lower value from individuals to either invest some where or deposit in banks.

One such case has already come to light. Two boys were arrested by the police in Agra, the Taj city, who were carrying currency notes of Rs 500 and 1000 totalling Rs 50 lakhs.

According to police sources here on Friday, the boys have admitted that they had collected these notes from a businessman for Rs 30 lakhs. This heavy earning without any expenditure is unimaginable.

Seventy-seven bundles were made from these notes and they were carrying them in a bag on their bike. The police nabbed them under a routine check-up at an inter-section.

The income tax department has been informed about the recovery which may take further action. It will match this amount with the disclosure of income made by the businessman and ask him to pay penalty if it is undisclosed.

In the light of this development, Uttar Pradesh police has intensified the search operation in different parts of the state. Currency notes of high denominations have been scrapped by the government since November 8.

Also read: Top banks and lenders cut interest rates on Fixed Deposits

Sakshi Chaturvedi

Sakshi Chaturvedi

A journalist, presently working as a Sub-Editor at newstrack.com.

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